EXHIBIT 4.10
AMENDMENT NO. 2 TO
SENIOR MANAGEMENT STOCK OPTION AGREEMENT
THIS AMENDMENT NO. 2 to Senior Management Stock Option Agreement is made to
be effective as of the 20th day of September, 1995 by and between Imperial
Credit Industries, Inc., (the "Corporation") and H. Xxxxx Xxxxxxx (the
"Optionee").
R E C I T A L S
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WHEREAS, effective as of January 1, 1992, the parties hereto executed a
Senior Management Stock Option Agreement (the "Option Agreement") whereby
Optionee was granted Senior Management Stock Options (the "Options");
WHEREAS, the parties hereto desire to make the Options exercisable as of
September 30, 1995; and
WHEREAS, it is in the best interests of the parties to make the Options
exercisable as of September 30, 1995.
NOW, THEREFORE, the parties hereto agree as follows:
1. All capitalized terms not defined herein shall have the same meaning
as set forth in the Option Agreement.
2. Section 1(a) of the Option Agreement is hereby amended to read in full
as follows:
"This Option shall be exercisable at any time after September 29, 1995
(subject to the provisions of Section 1(b), (c), (d) and (e) herein)
and until December 31, 2001, unless sooner terminated as herein
provided;"
3. No other provisions of the Option Agreement are affected by this
Amendment No. 2.
IN WITNESS WHEREOF, the Company and the Optionee have executed this
Amendment No. 2 to Stock Option Agreement effective as of the date first written
hereinabove.
"Corporation"
IMPERIAL CREDIT INDUSTRIES, INC.
By:__________________________________________
Xxxxx X. Xxxxxxx, its Executive Vice President
"Optionee"
_____________________________________________
H. Xxxxx Xxxxxxx
